Market Recap – August 31st
On Thursday’s trading day, markets showed little price movements as investors anticipated August’s official payroll report. Following other labor market reports, investors took weak readings as a positive sign that the Fed will not lift interest rates at this coming meeting later in September. The S&P 500 dropped 0.16%, the NASDAQ Composite went up 0.11%, and the Dow Jones fell 0.48%. In a recent trend, tech stocks showed the most volatility, with CrowdStrike and Palantir Technologies being some of the biggest movers of the day. Cybersecurity company CrowdStrike saw gains of 9.28% after beating top and bottom-line estimates and providing positive guidance for the next quarter. In the red was data analytics company Palantir Technologies, with its share prices going down 8.27% after analysts noted issues in their AI business model.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.